Tata Steel

Tata Steel correction looks complete. SL 355. Target 380-400.

Crompton seems to have completed its correction

Prices have almost reached  C = A X 2.618.  If it does not break 80 region, can show an upmove towards 150-70 range. Short term it can move another 2-5 points down.

WISH   YOU   ALL  A VERY   HAPPY NEW YEAR   2014

The last week lacked volumes due to holiday mood of FIIs. Nifty has been hovering around 6250-6300 and BN is hovering around its 10D EMA.

Hope soon the volumes will return and the range will be broken.

Book Profit

Election results, FOMC, RBI policy reviews ahead. So booked profits at this level.